Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers H > Headlines for HSBC USA Inc. > News item |
HSBC USA to price 11.5% reverse convertibles linked to Arch Coal
By Angela McDaniels
Seattle, April 5 - HSBC USA Inc. plans to price an offering of reverse convertible notes due Oct. 30, 2007 linked to the common stock of Arch Coal, Inc., according to an FWP filing with the Securities and Exchange Commission.
The six-month notes will pay 5.75% for an annualized rate of 11.5%. Interest will be payable monthly.
The payout at maturity will be par unless Arch Coal stock falls by more than 20% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Arch Coal shares equal to $1,000 divided by the initial share price.
The notes are expected to price on April 25 and settle on April 30.
HSBC Securities (USA) Inc. will be the agent.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.